$22.96 Million in Sales Expected for Codexis, Inc. (CDXS) This Quarter

Wall Street analysts expect Codexis, Inc. (NASDAQ:CDXS) to report $22.96 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Codexis’ earnings, with the lowest sales estimate coming in at $22.10 million and the highest estimate coming in at $24.09 million. Codexis posted sales of $9.97 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 130.3%. The company is scheduled to announce its next quarterly earnings report on Thursday, March 8th.

According to Zacks, analysts expect that Codexis will report full-year sales of $22.96 million for the current year, with estimates ranging from $50.40 million to $52.39 million. For the next financial year, analysts anticipate that the company will post sales of $68.57 million per share, with estimates ranging from $62.42 million to $77.28 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Codexis.

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Codexis (NASDAQ:CDXS) last announced its earnings results on Thursday, November 9th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.05). Codexis had a negative return on equity of 140.02% and a negative net margin of 76.37%. The company had revenue of $9.98 million during the quarter, compared to analysts’ expectations of $10.00 million.

CDXS has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and set a $8.50 price target on shares of Codexis in a research report on Tuesday, November 21st. Jefferies Group upped their price target on shares of Codexis from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, October 13th. BidaskClub upgraded shares of Codexis from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Finally, Zacks Investment Research upgraded shares of Codexis from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $8.58.

Shares of Codexis (CDXS) opened at $8.55 on Friday. Codexis has a 1 year low of $3.60 and a 1 year high of $9.45. The stock has a market cap of $413.37, a PE ratio of -13.15 and a beta of -1.59.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nationwide Fund Advisors boosted its position in Codexis by 15.7% during the second quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock valued at $118,000 after buying an additional 2,928 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Codexis by 30.5% during the second quarter. The Manufacturers Life Insurance Company now owns 35,264 shares of the biotechnology company’s stock worth $192,000 after purchasing an additional 8,244 shares during the period. Rhumbline Advisers boosted its holdings in shares of Codexis by 23.3% during the second quarter. Rhumbline Advisers now owns 42,872 shares of the biotechnology company’s stock worth $234,000 after purchasing an additional 8,095 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Codexis by 16.5% during the second quarter. Teachers Advisors LLC now owns 67,569 shares of the biotechnology company’s stock worth $368,000 after purchasing an additional 9,552 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of Codexis by 7.4% during the second quarter. California State Teachers Retirement System now owns 72,298 shares of the biotechnology company’s stock worth $394,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds own 65.85% of the company’s stock.

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Codexis Company Profile

Codexis, Inc is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Company’s CodeEvolver protein engineering technology platform, which introduces genetic mutations into genes in order to give rise to changes in the enzymes that they produce, overcomes many of the limitations, allowing customers to evolve and optimize biocatalysts to perform specific and desired chemical reactions at commercial scale.